The Carlyle Group and Getty Images Management to Acquire Getty Images
from Hellman & Friedman for $3.3 Billion

Digital Marketplace for Commercial Visual Content Poised for
Continued Growth

August 15, 2012 07:01 AM Eastern Daylight Time

WASHINGTON & SEATTLE--(BUSINESS WIRE)--Global alternative asset manager The Carlyle Group (NASDAQ: CG) and
Getty Images management announced today they have formed a partnership
to acquire Getty Images, Inc., a global creator and distributor of still
imagery, video and multimedia products, from Hellman & Friedman for $3.3
billion. Carlyle will acquire a controlling stake in Getty Images, while
Getty Images Co-Founder and Chairman Mark Getty and the Getty family
will roll substantially all of their ownership interests into the
transaction. Getty Images management, including Co-Founder and Chief
Executive Officer Jonathan Klein, will also invest significant equity in
the company.

“Getty Images consistently demonstrates growth, leadership and
prominence as one of the world’s leading media companies. This
partnership with The Carlyle Group reflects and bolsters our ongoing
strategy, strong management team and the talent of our dedicated
employees. We are delighted to collaborate with Carlyle, with its
formidable pedigree and success, and take the business into its next
phase of development and growth,” said Jonathan Klein, Co-Founder and
Chief Executive Officer of Getty Images.

Mark Getty, Co-Founder and Chairman, added, “In seventeen years, we have
built a business that has revolutionized the industry, with innovation
at its core. I am confident that the partnership between Getty Images
and The Carlyle Group will see the company’s success continue.”

Eliot Merrill, Managing Director of The Carlyle Group, said, “Getty
Images is the premier, digital global marketplace for commercial visual
content. We look forward to partnering with Mark Getty, Jonathan Klein
and the talented Getty Images management team. We will harness Carlyle's
financial resources and global network to help take Getty Images to the
next stage of product innovation and global growth.”

Andy Ballard, Managing Director, Hellman & Friedman, added, “We acquired
Getty Images in 2008 because we believed in its strategic direction,
growth potential and ability to build on its leading position as one of
the world’s premier media franchises. Our partnership exceeded our
expectations, and has resulted in an outstanding investment for Hellman
& Friedman. We’re confident the business is well positioned for future
growth and success with The Carlyle Group.”

Carlyle Partners V, a $13.7 billion U.S. buyout fund, will provide
equity financing for the investment. J.P. Morgan, Barclays, Credit
Suisse, Goldman Sachs and RBC Capital Markets have provided committed
debt financing for the transaction. The transaction is subject to
customary regulatory approvals and is expected to close in 2012.

Advisors

Getty Images

M&A: Goldman, Sachs & Co. and J.P. Morgan Securities LLC

Legal: Weil Gotshal & Manges LLP and Simpson, Thacher & Bartlett LLP

The Carlyle Group

Legal: Debevoise & Plimpton

Hellman & Friedman

Legal: Simpson, Thacher & Bartlett LLP

Getty Investments

M&A: Allen & Company

Legal: Davis Polk

About Getty Images

Getty
Images is a leading creator and distributor of still
imagery, video
and multimedia
products, as well as a recognized provider of other forms of premium
digital content, including music.
Getty Images serves business customers in more than 100 countries and is
the first place creative and media professionals turn to discover,
purchase and manage images and other digital content. Its award-winning
photographers and imagery help customers produce inspiring work which
appears every day in the world’s most influential newspapers, magazines,
advertising campaigns, films, television programs, books and Web sites.
Visit Getty Images at www.gettyimages.com
to learn more about how the company is advancing the unique role of
digital media in communications and business, and enabling creative
ideas to come to life. Additional information on how Getty Images
inspires and powers communications can be found on The Getty Images Blog
at blog.gettyimages.com
as well as on Facebook at www.facebook.com/gettyimages
and Twitter at www.twitter.com/gettyimages.com.

About The Carlyle Group

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager
with $156 billion of assets under management in 99 funds and 63 fund of
fund vehicles as of June 30, 2012. Carlyle's purpose is to invest wisely
and create value. Carlyle invests across four segments – Corporate
Private Equity, Real Assets, Global Market Strategies and Fund of Funds
Solutions – in Africa, Asia, Australia, Europe, the Middle East, North
America and South America. Carlyle has expertise in various industries,
including: aerospace, defense & government services, consumer & retail,
energy, financial services, healthcare, industrial, technology &
business services, telecommunications & media and transportation. The
Carlyle Group employs more than 1,300 people in 32 offices across six
continents.

Hellman & Friedman LLC is a leading private equity investment firm with
offices in San Francisco, New York and London. Since its founding in
1984, Hellman & Friedman has raised and, through its affiliated funds,
managed over $25 billion of committed capital. The Firm focuses on
investing in superior business franchises and serving as a value-added
partner to management in select industries including internet & digital
media, software, business & marketing services, financial services,
insurance, media, healthcare and energy & industrials. For more
information on Hellman & Friedman, visit www.hf.com.